HALPERN v. BARRAN


272 A.2d 118 (1970)

Robert HALPERN and Charlotte Kan Bonwit as Executors of the Estate of Robert Kan, Deceased, Plaintiffs, v. D. H. BARRAN et al.

Court of Chancery of Delaware, New Castle.

December 15, 1970.


Attorney(s) appearing for the Case

William S. Potter, and Charles S. Crompton, Jr., of Potter, Anderson & Corroon, Wilmington, Ralph L. McAfee, John R. Hupper, and John Linsenmeyer, of Cravath, Swaine & Moore, New York City, for Asiatic Petroleum Corp., Shell Petroleum N. V. and Monroe E. Spaght.

Henry M. Canby, and Richard F. Balotti, of Richards, Layton & Finger, Wilmington, Harold F. McGuire, and William J. Rennert, of Wickes, Riddell, Bloomer, Jacobi & McGuire, New York City, for certain individual defendants.

Henry N. Herndon, Jr., of Morris, James, Hitchens & Williams, Wilmington, for Shell Oil Co.

Irving Morris, of Cohen, Morris & Rosenthal, Wilmington, Bruce A. Hecker, and Ralph L. Ellis, of Shea, Gallop, Climenko & Gould, and Joseph A. Ruskay, New York City, for plaintiffs.


DUFFY, Chancellor:

This is a derivative action on behalf of Shell Oil Company, a Delaware corporation ("Shell"), against certain corporations controlling approximately 69% of its outstanding stock and against its present directors and all other directors who held office between 1959 and 1969.1 The complaint alleges wide-ranging transactions between Shell on the one side and the corporate defendants and various subsidiaries

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